Calculate Car, Two Wheeler and other auto loan EMI monthly repayments easily at AwtoBazar's online EMI Calculator
EMI Calculator helps you to calculate online monthly EMI repayments for car loan, two wheeler loan and other auto loans with ease at AwtoBazar
How to Calculate EMI →
EMI is the Equated Monthly Installment amount paid to the Bank or Financial Institutions against the loan which is to be repaid over the tenure of the loan on a monthly basis.
Mathematically, EMI Formula is :
E = P x R x (1+R)^N / [(1+R)^N-1]
P = Principal amount of the loan
R = Rate of interest
N = Number of monthly instalments.
National Automated Clearing House (NACH)/ECS mandate can be used to repay EMIs to debit automatically from your bank account at the end of the month
The most auto loans i.e cars,bikes etc.. tenures in India ranging from 1 to 5 years while some lenders offers tenure upto 7 years or 84 months
If you fail to pay your EMI's the financial institutions may charge you extra via Penalties in the future and it could impact your credit score.